Who doesn't love backing a winner?
There is nothing wrong with buying ASX shares in businesses that are on a roll, and riding that momentum onto further riches.
After all, if other investors are keen on them then they must be doing something right.
Here are two such ASX dividend shares named as buys this week from Marcus Today market analyst Matthew Lattin:
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'Further growth' to come
The Jumbo Interactive Ltd (ASX: JIN) share price has rocketed 22% since the end of March.
"Jumbo Interactive is a digital lottery specialist that provides its lottery software platforms and expertise to the charity and government sectors in Australia and globally," Lattin told The Bull.
He rates the stock as a buy with a bullish view on a business deal announced earlier this month.
"Jumbo Interactive recently secured a four-year extension of its software-as-a-service (SaaS) agreement with Lotterywest.
"The extended relationship with Lotterywest provides opportunities for further growth in the Western Australia lottery market."
The sweetener for investors jumping on now is a 2.8% fully franked dividend yield.
Lattin is not the only one thinking Jumbo Interactive makes a good addition to portfolios right now.
According to CMC Markets, six out of eight analysts currently rate the stock as a buy.
'Impressive fiscal year 2023 results'
Lattin's other pick is supermarket chain Woolworths Group Ltd (ASX: WOW).
He thought it "reported impressive fiscal year 2023 results".
"Group sales, before significant numbers, of $64.294 billion represented a 5.7% increase on the prior corresponding period.
"Group earnings before interest and tax of $3.116 billion, and before significant items, were up 15.8% year-on-year."
With uncertainty looming over the economy, the consumer staples stock has soared 13.9% since the start of this year.
That's all while it pays out a handy 2.7% dividend yield, also fully franked like Jumbo Interactive.
According to Lattin, this dividend stock is not overreaching in its level of distributions.
"Woolworth's dividend payout is sustainable, with the company declaring a final, fully franked dividend of 58 cents a share."
His peers are a tad less certain on this one than Jumbo, with seven out of 16 analysts rating it as a buy on CMC Markets.
